Is there a dark end for TheStreet.com?
And other ebiz titbits
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Online financial information company TheStreet.com has admitted its summer relaunch has been a bit of a flop and ad revenue has been 'disappointing'. It is now 'evaluating opportunities' to link with other financial news providers. Content distribution deals have been held up by technical hitches.
Travel booking site Ebookers has moved into financial services via a website launched with Moneygator.com.
Colt Telecom has signed a deal with HP to create 20-24 ebusiness centres - places offering web hosting and application service provision. The investment is estimated to be tens of millions of euros.
GorillaPark - the pan-European Internet business accelerator - has set up shop in France. It will be headed by former venture capitalist, Jean-Emmanuel Rodocanachi.
Energis raised £400m for network extension through the issue of 77.7 million new shares yesterday. The issue caused share price to fall 11.3 per cent. The money, according to chief exec Mike Grabiner, is to "enable us to develop further our business in the UK and continental Europe, to leverage our extensive network and improve local access by exploiting new technologies". What this means in reality is that Energis is gearing up to take advantage of local loop unbundling and buy radio licences for point-to-point Net connection. Grabiner also made some unpleasant comments about how useless Oftel is.
Vodafone will buy a further 8.5 per cent stake in Airtel for £1.5 billion - increasing its total stake to 73.7 per cent. It also has the option of buying another 9 per cent. Airtel is Spain's second largest mobile company.
Cable & Wireless has sold a quarter of its stake in Pacific Century Cyberworks for nearly £1 billion. The sale fits C&W's strategy of selling non-essential companies in its bid to become a data centre and Net service monster. It was prevented from selling any more shares, and can't sell any more until February. The remaining shares after that can be sold off six
months further down the line. ®
For more dull financial stories click here to visit our Cash Register.
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